PwC Legal advises on the sale of 80% of the shares in ARADEX AG
Stuttgart, January 2, 2020.
PricewaterhouseCoopers Legal AG Rechtsanwaltsgesellschaft (PwC Legal) provided comprehensive legal advice to the shareholders of ARADEX AG on the sale of 80% of their shares to the Chinese industrial group Weichai Power Co., Ltd.
PwC Legal was responsible for coordinating the sales process with an international group of bidders and negotiating the share purchase agreement and accompanying documents. In addition, PwC Legal took care of the foreign trade approval („außenwirtschaftsrechtliche Freigabe“) of the transaction by the Federal Ministry of Economics.
ARADEX AG, based in Lorch, Germany, is an integrated system provider for electric mobility in the commercial vehicle sector and a pioneer in the field of high-performance drive technology. The product portfolio consists of in-house developed electric motors, converters and voltage converters. Hundreds of successful applications speak for the excellent products, which are designed for up to 30,000 operating hours.
The listed Weichai Power Co, Ltd. is one of the largest vehicle and energy system industrial groups based in the People’s Republic of China. Weichai Power has been active in Germany for several years through investments in the KION Group AG and Linde Hydraulics.
ARADEX and Weichai Power intend to jointly develop innovative driving solutions based on renewable energies for commercial vehicles.
Legal advisors of the shareholders of ARADEX AG:
Dr. Steffen Schniepp, Dr. Thomas Wenninger (both lead), Dr. Minkus Fischer, Michael Häupler, Karsten Horch (all Corporate/M&A, all Stuttgart)
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